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I am in process of sale my house in NC. Since there is a company buy out program, I think I will take some lost but housing market in NC is not really bad, therefor I have no worry about this issue.
However, I do not know what is my next step. I plan to stay in Ohio for the next few years (5 is the most) and move back to the South.
Shall I buy an other house right now or put the money in the bank and wait for the time come? Understand that no one has the crystal ball to predict the future housing market, however I still want to get your opinion.
If I buy an other house (somewhere in Florida or Myrtle Beach, NC), I can rent it out . Even I can not rent it out then I will use it for my winter retreat or my kid vacation home (my kids are still in NC).
If I wait, then I might never see the current housing price again.
It seems to me that the prevailing opinion is that the housing market (and house prices) is headed further down for at least the short term (next couple years). If that is true then those who can choose to own or rent should probably sit out the housing market and then buy a house of their choosing at a lower price sometime in the future.
That's my belief and my present plans are likely to pick a city to settle and rent there, then buy after I've become certain about my city choice. I expect I'll be able to buy a nicer house next year for the same money, or the same house for less money. In the latter case that means lower taxes too.
Contrast that with the likelihood of the market taking an upturn in the next few years. That seems so unlikely as to make me scoff.
Brandon: I took the advices not to buy a condo in Ohio. I am renting an apt now. This question relates to the "future" and "final" home which will be some where in the South after I done with Ohio.
Brandon: I took the advices not to buy a condo in Ohio. I am renting an apt now. This question relates to the "future" and "final" home which will be some where in the South after I done with Ohio.
Ahh...well in my opinion you don't have to buy right now. I don't see prices appreciated in those markets you named for at least 18 months. If you happened to run across the perfect place and could more or less cover your expenses renting it I see no problem with buying now. If you'd be paying out of pocket even after rent then I'd wait.
I don't see prices appreciated in those markets you named for at least 18 months. If you happened to run across the perfect place and could more or less cover your expenses renting it I see no problem with buying now. If you'd be paying out of pocket even after rent then I'd wait.
Thanks. I think I will take your advice.
Checking Realtor.com recently, I see one very nice house in Myrtle Beach area for sale. That is the reason why I brought up this question. I torn between the idea to buy it and not living in it for next 5 years.
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